New York, NY (Oct. 18, 2023) – Hull Street Energy (“HSE”) has made a strategic growth investment in Greenskies Clean Focus (“Greenskies”), a JLC Infrastructure portfolio company. Greenskies is a fully integrated platform that originates, designs, constructs, finances, owns, and maintains distributed generation projects. HSE is an energy-focused private equity firm with extensive knowledge of North American electricity infrastructure and power market fundamentals. JLC and HSE share a vision for accelerated growth and increased market share as Greenskies pursues expanded opportunities spurred on by the 2022 Inflation Reduction Act. The investment from HSE further strengthens Greenskies’ balance sheet, providing a competitive advantage in the distributed generation sector as the company expands its footprint by bringing renewable energy solutions to customers across the nation.
“We see tremendous opportunities for future growth driven both by the IRA and increased customer demand for attractive onsite clean energy solutions. Hull Street Energy will be a valuable strategic partner during this expansion period, and we are excited to work with Hull Street Energy to continue building the Greenskies platform,” said Andrew Kim, Managing Director of JLC Infrastructure and Head of Sustainable Energy and Utilities.
The Greenskies team will continue to draw on its long track record, deep technical expertise, JLC’s relationships in the municipal sector, and now HSE’s extensive energy sector expertise to build a leading integrated renewable independent power producer, focused on reaching customers seeking access to low-cost sustainable energy.
"We are pleased to welcome Hull Street Energy as a new equity sponsor and strategic partner. Hull Street Energy has significant industry expertise and a commitment to decarbonize the North American energy economy. This investment will provide Greenskies with the capital necessary to serve our expanding network of customers and extend the Company’s development capabilities in our next phase of growth,” said Stanley Chin, CEO of Greenskies.
DLA Piper LLP and KeyBanc Capital Markets acted as legal counsel and financial adviser to JLC Infrastructure, respectively. Troutman Pepper acted as legal counsel to Hull Street Energy.
Greenskies Clean Focus offers a full suite of decarbonization solutions, including onsite and offsite solar, battery storage, microgrids, and CCHP. From beginning to end – origination through construction and then lifetime operation – customers work with a single delivery team. Since Greenskies was founded in 2009, they have developed and constructed 314 MW of renewable energy facilities across 590 sites in 19 states. Solar Power World ranks Greenskies Clean Focus as the number one commercial solar developer in the Northeast and top three in the U.S., based on cumulative kW installed. For further information please see www.greenskies.com.
About JLC Infrastructure
JLC Infrastructure is an investor and asset management firm focused on the sustainable energy, transportation, utilities, communications, and social infrastructure sectors in the United States. The firm was formed in 2015 by Earvin “Magic” Johnson of Magic Johnson Enterprises and Jim Reynolds of Loop Capital. JLC has a broad network of long-standing relationships with municipalities, governments, infrastructure companies, strategic partners, advisors and financing providers throughout the country and seeks to invest in critical infrastructure projects which provide long-term benefits to the communities they serve. For more information, please visit www.jlcinfra.com.
About Hull Street Energy
Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes. Headquartered in Bethesda, Maryland, the team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals, and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil powered generation assets, energy storage, transmission and distribution systems, and electricity demand-side businesses to build value for stakeholders. For further information about Hull Street Energy please see www.hullstreetenergy.com.